If you want the wealth I would look into appreciation markets such as Columbus or Cincinnati. 

Real estate is still the best investment for normal people to remove or at least cushion themselves against the rat race and build wealth.  I

Let's say there is zero tax benefit to be had... fine... what about building wealth? I

I did see quite a few gas stations with bars and what not.I have no doubt there are beautiful, wealthy, safe parts of the city, but I found them few and far between on my trip

But in general, with rates the way they are, it's a break even at best type of market right now.That said, like you seem to have a feel for, appreciation is where the majority of wealth is built in real estate.

I like to work with investors because they tend to be repeat buyers and sellers and that makes them a good resource for me, so I spend a lot of time on the mentor side of things with each one to make sure we share common goals of building up their portfolio and wealth.  I

To truly understand that statement, and the risk control it gives you, is one of the biggest reasons most of the wealthy invest in RE...but don't actually own much.

But the other half of the puzzle is building wealth. I

Your first deal will not be a home-run, and it will not make you wealthy (except for the knowledge you gain).

Real estate wealth is built by buying & holding.